TheFederal Financial Monitoring Service of the Russian Federation (Russian:Федеральная служба по финансовому мониторингу) (known asRosfinmonitoring (Russian:Росфинмониторинг)) is a Federal Service that was created by adecree ofPresidentVladimir Putin of November 1, 2001, and aimed to collect and analyze information about financial transactions in order to combat domestic and internationalmoney laundering,terrorist financing, and otherfinancial crimes. The organization also provides lists of people accused of terrorist or "extremist" activitiesand books.[1]
From November 1, 2001, to March 9, 2004, it was calledFinancial Monitoring Committee (Russian:Комитет по финансовому мониторингу). It has been led byViktor Zubkov from the very beginning.
Under Presidential Decree No. 1263 from November 1, 2001 "On the authorized body to counteract the legalization (laundering) of proceeds of crime", the Committee for Financial Monitoring of Russia (Комитет Российской Федерации по финансовому мониторингу) was born. The Presidential Decree came into force on February 1, 2002.
Following the adoption in September 2002 amendments to the Federal Law "On Combating Legalization (Laundering) of Proceeds from Crime and Financing of Terrorism", The Financial Monitoring Committee (KFM of Russia) functions have been enhanced with countering terrorism financing.
One of the committee's functions was to improve Russia's image in the international community: Russia at the time was in the "black list" ofFATF. Through the efforts of FMK in October 2002, Russia was removed from the "black list", and in June 2003 the Committee became a member of the FATF.
On March 9, 2004, The Presidential Decree No. 314 ("On system and structure of the federal organs of the executive authority") The Committee for Financial Monitoring transformed into the Federal Service for Financial Monitoring (Rosfinmonitoring).
Until September 2007 the Federal Financial Monitoring Service was administered by theMinistry of Finance of the Russian Federation. In accordance with Presidential Decree from September 24, 2007 (No. 1274, "On Issues of the structure of federal executive authorities) The Rosfinmonitoring become subordinate directly to theGovernment of the Russian Federation.
According to the Decree of thePresident of the Russian Federation from May 21, 2012 (№ 636; "On the structure of federal executive agencies"), the Federal Service for Financial Monitoring became under the authority of thePresident of Russia.
In 2022, the US companyMeta was added to the list of extremists and terrorists.[2]
Persons or companies included in the list are prohibited to buy or sell property, and to receive inheritance. Their bank accounts are frozen as well as their credit cards.[3]
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